The president of the New York Federal Reserve told executives from the big banks Monday that unless they adopt a compliance culture that works, they'll have to become smaller and more manageable.
The danger of litigating, at least to trial, on the back of criminal conduct giving rise to guilty pleas and convictions both under the FCPA and similar English legislation was illustrated in the recent case of Jalal Bezee Mejel Al-Gaood v Innospec Ltd.
A Texas jury Monday awarded a whistleblower $175 million in his False Claims Act suit against Trinity Industries for faulty guardrails. Under federal law, the award will be trebled to $525 million.
FCPA Blog-sponsor AlixPartners released its 2014 Litigation and Compliance Survey last week. The report explored the nature and frequency of disputes faced by companies in North American and Europe and the various approaches that companies are undertaking to deal with potential litigation. The survey found that companies in both the U.S. and Europe are experiencing an increase in litigation activity and, as a result, are ramping up their staffing to deal with this issue.
China’s state-run newspaper People’s Daily has accused multinational companies of avoiding taxes in China and urged authorities to take measures to combat tax evasion.
The mayor of Croatia's capital and biggest city and several of his associates were arrested Sunday on suspicion of corruption and abuse of office.
Despite decades of corruption that helped drive Greece into bankruptcy and a $300 billion international bailout, politicians there have passed a raft of new laws giving themselves and others immunity for graft.
The United States imposed a travel ban on ten Hungarian officials and businessmen, the Hungarian media reported Friday morning. By early afternoon chargé d'affaires of the U.S. embassy in Budapest, M. André Goodfriend, called a press conference and confirmed that the United States revoked the visas of "less then ten” persons.
Two Connecticut men pleaded guilty Friday for a bribery scheme to obtain confidential internal documents and other confidential information from a former FBI Special Agent stationed in White Plains, New York.
A former JPMorgan Chase banker pleaded guilty in federal court in San Diego Friday to taking bribes to influence mortgage sales.